Pros
Nobody will notice if you slack off. I come in at 9am and leave at 5pm. Everyday. Really like my coworkers (most of the time). If you value spending more time at home than work and don't mind a pay cut then this is the place for you. People act like they care. If you're a southern, conservative male WASP this is your paradise.
Cons
Bare-bones, cost cutting at all the way. Accountability does not exist. Very male "good guy" culture. I see men getting ahead at the company a lot faster than women and in general they seem to get more respect. There is no momentum in a single direction, more like fragmented choruses singing the same story "we're getting better, we're getting better." My first boss was disorganized and bullied me. My second boss played favorites and couldn't be direct. On your in-balance you will have to "rate yourself" and then watch management go back and "force fit" the rankings to that only a few people get decent "raises" (less than $5,000). That's called a cost of living adjustment to barely keep up with inflation, not a RAISE.