Heat oven to 350°F. Generously grease 12-cup fluted tube (bundt cake) pan with shortening; lightly flour. In large bowl, beat granulated sugar and 1 1/2 cups butter until light and fluffy. Add 1 teaspoon vanilla; beat in 1 egg at a time until well blended. In small bowl, mix flour, baking powder, 1/2 teaspoon salt, the cinnamon, ginger and cloves. Alternately add dry ingredients and pumpkin to butter mixture, beating well after each addition. Pour batter into pan.
Bake 60 to 70 minutes or until toothpick inserted in center comes out clean. Cool 15 minutes; invert onto serving plate. Cool completely.
In medium saucepan, heat brown sugar, whipping cream, corn syrup, 2 tablespoons butter and dash salt to boiling over medium heat, stirring constantly. Reduce heat to low; simmer 5 minutes, stirring constantly. Remove from heat; stir in 1/2 teaspoon vanilla and the walnuts. Serve warm sauce over cake. Refrigerate any remaining sauce.