Pros
Working for the company is considered a privledge and if you are willing to do what is asked, even if it has nothing to do with your strengths and ability to contribute, there is stability in your misery. Performance goals are so abstract that success and performance ratings are not related, if your liked you'll be there. Stability of a mutual company.
Cons
Highly political, treatment is based on who you know not what. You can get away with anything if your manager likes you, nothing if they don't. No matter how good you are at something only what the company needs is considered in placement. Training is not provided to all, or based on abilities, back to if your liked. One mistake destroys careers at SF. Old school management where focus is on "fixing" weakness instead of leveraging strengths wasting great talent. Loyalty is expected at all costs when non is returned. It is based on a totally biased system based on who you know, who you irritated, and who likes you.