Pros
The people are nice, for the most part, and mean well. The work is steady, and the company is relatively stable. Also, it's good for work/life balance for those with families.
Cons
There are too many "lifers." For example, my boss has been there 15 years, and hasn't been promoted in at least 5 years. People are complacent with doing their set job and not really advancing. For someone like me, that's not a place I want to stay more than 3 years, max, because there is no growth potential in terms of role and responsibility (and also compensation). It would be great if I were 55-60 and riding this job out into retirement, though (which it seems is many people's plan). Lots of managers get by with just being managers... not leaders. Also, they frequently slack off their work onto subordinates with no recognition or praise. There are lots of people at the company who get by solely on past reputation (because they've been there forever), but couldn't do the job of their current subordinates if those folks left (which they undoubtedly will due to lack of advancement opportunities).