1. Over medium high heat, bring a saucepan of salted water to a boil. When it is boiling, blanch the asparagus, cooking just 1 to 2 minutes. Remove to a colander, and place in a bowl of ice water until cool, then set aside.
2. In the saucepan, combine the broth and water and bring to a simmer over medium high heat. Reduce heat to maintain at a simmer.
3. In a Farberware Cookstart 6-Quart Nonstick Jumbo Cooker, over medium high heat, combine 2 tablespoons of the butter with the olive oil and the shallots. Add salt, and sauté until soft, about 1 minute, then add the rice and stir until the rice is translucent.