Pros
If you currently work here you can only hope that the company sells quickly, and that the new management cleans house at the top. This used to be a great place to work, and maybe the company can come around to being what it once was after new ownership.
Cons
The ownership has been trying to get rid of the company like a bad penny for the past several years. In addition to the economic downturn in 2008 the company has adopted a strategy that it will pay for only essential services (including talented employees) - settling for reactionary repairs of aging buildings, salary freezes, spending freezes, massive layoffs, cutting experienced employees because they make too much money, and many more efforts to cut cost without a care or concern for the business consequences.