Pros
Few obvious pros. But if I had to come up with something I'd say; 1) The company does offer some chance of promotion to obsequious over-achievers willing to work 12 hours per day achieving nothing. 2) Additionally, the company did inherit patents on some very interesting technology which allows it to charge exorbitant rates for products which are essentially small pieces of plastic. This keeps the company financially viable and hence a provider of secure jobs. It will likely continue to provide secure jobs until some better technology comes along. 3) While senior management is somewhat self-obsessed, hopelessly grounded in nepotism, and in some cases slightly maniacal, they aren't all that offensive on a personal level. Additionally, though unlikely to respond to criticism, they tend to at least listen.
Cons
Too many to list. But to name a few; 1) Moderatish benefits that have a habit of continually being degraded. 2) Woefully nepotistic. 3) Painfully bureaucratic. 4) Very poor information sharing within the company. Employees are generally only aware of work being conducted within their own small group. Lack of procedural understanding between groups leads to constant miscommunication and error.