1 c. butter, softened
1/2 c. shortening
2 1/2 c. sugar
3 c. flour
1 t. baking powder
1/2 t. salt
3/4 c. milk
1 t. vanilla
1 T. unsweetened cocoa powder
1 T. red food coloring
Beat butter and shortening in large bowl of stand mixer, fitted with paddle attachment, until creamy. Gradually add sugar until light and fluffy. Add eggs, one at a time, beating after each, until blended.
Mix the flour, baking powder and salt together and add it, alternately with the milk, to the butter mixture. Stir in vanilla.
Treat a bundt pan liberally with baking spray or grease and flour very well, making sure to get into all areas of the pan.
Remove 2 1/2 c. of the batter to another bowl and stir in the cocoa and food coloring. Using an ice cream scoop, place scoops of the white batter along the bottom of your bundt. Add scoops of the red batter on top and in the center of each two white scoops. Continue in this manner until all the batter is used.
Place in a preheated 325* oven for 55-60 minutes, until a skewer inserted in the center removes cleanly. Remove from oven and let cool in the pan, on a cooling rack for 10 minutes. Flip the cake from the pan onto the cooling rack and let cool completely.