Peel onions and thinly slice.

Melt butter in large skillet. Add sliced onions and salt. Cook on medium heat until the onions are well browned, stirring every couple of minutes. This will take approximately 20 minutes. Once the onions are wonderfully brown (and smell so good!), add a bay leaf and fresh thyme sprigs to the skillet (if using dried thyme, reduce by 1/2 the amount used). Add sherry, minced garlic, sugar, beef broth and chicken broth to skillet. Stir well, to combine all ingredients. Let this mixture cook, uncovered for 20 minutes on medium heat, stirring occasionally. This will burn off the alcohol (sherry). When done, remove bay leaf and thyme sprigs from soup. Stir in soy sauce and black pepper.

Ladle the hot soup into bowls, and immediately garnish each serving with 1/2 Tablespoon grated Parmesan cheese and fresh thyme (if desired). Serve, and ENJOY! (the leftovers are wonderful, as well!)