Italian Cream Cake

For cake layers:
    2 cups granulated sugar
    1 1/2 cups vegetable shortening, softened
    1 stick (1/2 cup) margarine, softened
    5 large eggs, separated
    2 cups all-purpose flour
    1 teaspoon baking soda
    1/2 teaspoon salt
    1 cup well-shaken buttermilk
    1 teaspoon vanilla
    2 cups sweetened flaked coconut
    1 cup chopped pecans

For frosting:
    1 (8 oz.) package cream cheese, softened
    1 stick (1/2 cup) margarine, softened
    1 teaspoon vanilla
    1 lb. box confectioners' sugar

Make cake layers: Preheat oven to 375F. and lightly butter and flour
three 9- by 2-inch round cake pans, knocking out any excess flour.

In a bowl with an electric mixer beat together sugar, shortening,
and margarine until light and fluffy. Add egg yolks, 1 at a time,
beating well after each addition. Into another bowl sift together
flour, baking soda, and salt. Beat flour mixture into egg mixture in
2 batches alternately with buttermilk, beginning and ending with
flour mixture, until combined. Beat in vanilla, coconut, and chopped
pecans. Beat egg whites in another bowl until they just hold stiff
peaks and fold into batter gently but thoroughly.

Divide batter among pans, smoothing tops, and bake in upper two
thirds of oven, switching position of pans in oven halfway through
baking, until a tester comes out clean, about 30 minutes. Cool cake
layers in pans on racks 10 minutes and invert onto racks to cool
completely.

Make frosting: In a bowl with an electric mixer beat together cream
cheese, margarine, and vanilla until smooth. Gradually beat in
confectioners' sugar, beating until creamy.

Stack cake layers on a cake plate, spreading about 1/2 cup frosting
between each layer. Spread remaining frosting on top and side of
cake.