Pros
Good work-life balance, good benefits, lots of opportunity for training. Diversified business with lots of niche market areas that allow them to succeed in spite of weak management. A number of business units are capital intensive operations with high barrier to entry, so competition is limited. A good place to take them for all the training and benefits they offer, then move on.
Cons
Lots of industry inbreeding and nepotism in the management ranks. Senior people are mostly nice old men who don't belong at that level with a couple of exceptions - but not enough talent in the senior ranks. They have great difficulty attracting and retaining real talent as a result. They award VP titles to people who would never achieve that level in better-run companies as a means of retaining younger managers who they hope will become the future senior management. Unless you are one of those, don't stay.