Preheat oven 325F
Combine sugar and oil and beat the mixture well.
Add the eggs, one at a time.
Sift the dry ingredients together and stir into the egg mixture.
Beat in the apples, nuts and vanilla. Pour the mixture into a buttered spring form tube pan.
Bake about 1 hour or until a toothpick inserted in the center comes out clean.
Combine the glaze ingredients in a medium saucepan. Boil the mixture for about 3 minutes. Set aside 1/3 cup of the glaze and pour the rest of the glaze over the the hot cake.
Allow the cake to cool completely then remove it from the pan onto a serving plate. Right before server, pour the last 1/3 cup of glaze over the cake.