Pros

Low level employees are honest and hard working.
Work/life balance was excellent.
benefits were good before the bubble.

Cons

Company is in a shrinking industry.
Way too much overhead to support current cash flow.
Creativity to solve problems efficiently was replaced by corporate oversight and regulations.
Employees who do not agree with management are marginalized - motivation by fear.
Senior management is so detached from rest of company, they reside and work in a different city and state than corporate employees.
Corporate oversight and regulations created solution stagnation. Nothing gets done unless paperwork is filled in in triplicate then reviewed by committee three months later. If an employee works outside of the bounds of his/her box, s/he is reprimanded.

Advice to Senior Management

Senior Management should have listened to employees when they said there would be a housing bubble, instead of retiring, firing and marginalizing them.