Lack of vision and leadership, lack of training, lack of promotions, no life/work balance, and no motivation or incentives. Allow employees to have an opinion on topics that involve them.
Good friends can be made
Decent start for basic IT experience on your resume
Cons
Will pay you just enough to keep you going in everyday in order to feed yourself
Management is bass ackwards and very childish with their "friendships"
Employees are treated and looked at like numbers on a spreadsheet
If you get a good immediate boss, dont expect their mandatory replacement in a year or two to be anywhere near as good, management tends to swap roles left and right to get their "friends" into higher pay grades