Saute bacon and onions together in a heavy pot over medium heat until bacon is crisp and onion is translucent. Drain off the fat and discard. Add reserved tomato juice to pot and then squish the tomatoes through your fingers into the pot. Add corn, thyme, and salt and pepper, to taste, and simmer for 10 to 15 minutes or until desired thickness. Add cheese and stir until melted. Halve potatoes lengthwise and then spoon the Ring Tum Ditty over potatoes. Dot with butter, if desired, and wait for the complements.