Colorado Cowboy Bean and Beef Bake

3 slices bacon
2 cups onion, thinly sliced
1/2 pound ground beef
1 2/3 cups pork and beans
1 teaspoon salt
Black pepper to taste
1/2 cup ketchup
2 tablespoons molasses

Cut each bacon strip into 3 pieces and fry slowly until crisp. Remove bacon; brown onion and ground beef in bacon drippings. Combine with remaining ingredients and mix well. Pour into 1 1/2-quart casserole. Bake at 350 degrees F for 1 hour, uncovered.