Pros
It's very hard to talk about the pros of this company when you watched it slide downhill so fast. The work was consistent and many of the other employees were decent people. That's about as far as I can comment. Ten years ago it was a different story.
Cons
Where does one begin? Take a company that was #1, chase out proven professionals and encourage the "popularity contest winners" to take the helm. Watch it slide to #3 (out of 3 competitors). Reward people for doing crappy work, but efficiently, praise those who get their half-assed work accomplished, and reprimand those who take pride in what they do and make life impossible for them. Promote managers who manage from the hip, and let them form a clique, if you're not part of it, you'll never find success.