Pros
One of the best newspapers in the country. The L.A. Times could give you endless opportunities to do great work. Most reporters there are helpful and nice. Some are byline whores who will steal your work and put their names on it, but that's probably the case most places.
Cons
Scary outlook for the future of the business. Many changes and layoffs. Many scared and unfriendly bosses. There are so many editors here who should have been let go decades ago that it isn't even funny. Of course there are some very nice and very good editors. Too many others are tired, disinterested but scared enough for their jobs to make your life hell. Some editors never should have been made editors -- they may have been good reporters but they are nightmares for anyone who has to work for them.