Pros
Above average salary for the area, current CEO appears to be addressing long needed changes in culture, good benefits (medical, leave, 401k match, pension plan, cell phone and hotel discounts for being gov't employee). TVA is the type of company that you could easily blink your eyes and have worked an entire career (in a good way). The company makes legitimate efforts to be a steward to the community. The Tennessee Valley is a beautiful and very affordable place to live and raise a family.
Cons
70% of the workforce is unionized, which has created a warped sense of entitlement by employees and makes it extremely difficult to discipline or get rid of problematic individuals. There are some growth opportunities (getting better) however some departments are quick to label people in roles. Many of the generating plant employees treat their plant like its own company and do not think of the big picture (company wide goals). As with most companies, change management is a challenge because of 20 + year employees saying "it won't work" or "this is the way we've always done it". Could be more diverse (not just white and black). Spends a great deal of time reorganizing and blaming previous management for current problems.