Pros
Fixed working hours, usually no over-time is expected. At HQ, the building goes empty after 5:15pm. It's a place where it's ok not to work competively against your peers.
Cons
Fixed schedule. The company's culture ensures that any responsible employee would feel guilty going to a doctor appointment or stay home to care for a sick kid. No way to work from home. You can say you're working from home, and the reality is that nobody would believe you actually worked. The infrastructure doesn't really support it, and management doesn't encourage it. Suit and tie every single day, including Friday. The chairman does watch the dress code closely. Sometimes memos go out in the summer time to remind ladies not to wear certain shoes, and nylons are required. Many more silly rules!