Pros

Expedia is a smaller company, giving you some opportunities to grow outside of your area.
Rapid exodus of talent means opportunity for quick advancement if you can play the political game.

Cons

Upper management is incompetent.
Political infighting and backstabbing on all levels (including individual contributor) that would make even Machiavelli uncomfortably nervous.
Great talent is chronically unrecognized and treated poorly.
Great managers are few and far between these days.
Chronic "Emperor's New Clothes" syndrome.
Moving from private office space to a building in downtown Bellevue with cubicles and ~$100/mo parking.

Advice to Senior Management

Quit. Please. That includes you too, Barry.