Preheat oven to 400°.
Melt butter in a 12-inch cast-iron skillet over medium-high heat. Add shallots; saute 10 minutes or until lightly browned. Stir in wine and next 6 ingredients (wine through bay leaves). Cover and bake at 400° for 30 minutes. Uncover and bake 40 minutes or until sauce thickens. Remove bay leaves. Stir in olives; sprinkle with parsley.