Chicken with Saffron Rice

INGREDIENTS

• 3 1/2 lb. chicken thighs and drumsticks
• Salt, to taste, plus 1 1/4 tsp.
• Freshly ground black pepper, to taste
• 2 Tbs. olive oil
• 1 yellow onion, finely diced
• 1 red bell pepper, seeded and finely diced
• 1/4 tsp. crumbled saffron
• 1/4 tsp. red pepper flakes
• 5 garlic cloves, minced
• 1/2 cup dry sherry
• 2 1/4 cups chicken broth
• 1 can (14 1/2 oz.) diced tomatoes with juices
• 3 cups medium-grain rice
• 1/2 cup green olives, pitted and halved
• 1 Tbs. minced fresh flat-leaf parsley