Do let this recipe fool you - it does not have a strong alcohol taste but has a nice rich flavor. If children will be eating this cake - leave off the bourbon glaze (the glaze is not cooked therefor the alcohol does not burn off).
Preheat oven to 325 degrees. Beat shortening at medium speed with an electric mixer until light and fluffy. Gradually add sugar, beating at medium speed 5-7 minutes. Add eggs, one at a time, beating just until yellow disappears.
Combine sour cream and 1/2 cup bourbon. Set aside.
Combine flour, baking powder, salt and nutmeg. Add to shortening mixture alternately with sour cream mixture, beginning and ending with flour mixture. Mix at low speed just until blended after each addition. Stir in pecans. Pour into a greased and floured bundt pan.
Bake at 325 degrees for 1 hour and 10-15 minutes or until a wooden pick inserted in center comes out clean. Cool in pan on a wire rack 10-15 minutes; remove from pan and cool completely on wire rack. Drizzle with bourbon glaze, or dust with powdered sugar.
BOURBON GLAZE: Combine powdered sugar, bourbon and water, stirring until smooth.