In a large saucepan, heat butter and oil until butter is melted. Add the potatoes, garlic salt and pepper. Cook over medium heat for 4-6 minutes or until potatoes are tender and lightly browned.
Stir in the broth, onion, bacon, garlic, rosemary and thyme. Bring to a boil. Reduce heat; cover and simmer for 15 minutes. Stir in water and bouillon. Gradually stir in cream; heat through. Add cheese, stirring until melted. Yield: 4-1/2 cups.