Pros
Great company/location to be complacent in. Perfect for those who are happy without responsibility, and love to hide behind others, and be compartmentalized. Great work-life balance.
Cons
Even the most ambitious and well-funded effort to re-structure development groups and move to agile methodologies and tools has failed to change the silo culture of this firm. Organizational structures make no sense (product owners report up differently from development team members - one hand doesn't know what the other does), effective communication between groups / applications still does not happen. Product owners have no accountability for the product. In fact, nobody seems to have any accountability. You have to be very good at maneuvering organizational obstacle courses and avoiding land mines if you want to be successful, because the quality of the software has no meaning in the decision process. No career opportunities in Portland - if you want to be a part of the happening software crowd, you will be forced to move to Chicago. Unfortunately they get nothing done there because every day a newer and shinier technology comes along, which must be tried in favor of abandoning everything that was done yesterday.