1Grease & flour 3 (9 inch) round cake pans. Set aside. Beat butter @ shortening @ medium speed of an electric mixer until soft & creamy. Add sugar, beating well. Add eggs one at a time, beating after each egg. Stir in vanilla, coconut & pecans. Pour batter into prepared pans.
2Bake @ 350 degrees for 30 minutess, or til a wooden tooth pick inserted in center of pan comes clean.
Cool in pans on wire racks for 10 minutes. Remove from pans, and cool completely. Frost with cream cheese Iciing
3Cream Cheese Frosting: beat cream cheese & butter @ medium speed until soft & creamy. Gradually add powdered sugar, beating til smooth. Stir in vanilla. Yields enough for a 3 layer cake.