1 cup (2 sticks) margarine
1/2 cup solid shortening
3 cups all-purpose flour
3 cups granulated sugar
5 eggs
1/2 cup powdered cocoa
1 tablespoon vanilla extract
1/2 teaspoon baking soda
2 ounces red food coloring
1 cup milk

Preheat oven to 300 degrees F. Lightly grease and flour a tube or Bundt pan.

Cream shortening, margarine, and sugar together. Add eggs, one at a time. Combine dry ingredients. Add to mixture slowly, alternating with milk. Add food coloring and vanilla extract and beat well. Turn into prepared pan. Bake for 1 1/2 hours.

Cool in pan 10 minutes. Turn onto rack. Frost with cream cheese frosting when completely cool.

Frosting
1/2 cup (1 stick) margarine
8 ounces cream cheese
1 box confectioners' sugar
1 tablespoon milk
1 teaspoon vanilla extract

Cream margarine and cream cheese until light and fluffy. Add sugar, milk and vanilla extract. Beat until combined well. Spread on cake.