Marsh & McLennan – “Incompetent, unimaginative, political management”

Pros

Despite everything, there are still some really great people to work with left in the company.
Work/life balance is good, vacation times and so on are adequate.
Recent management seems more disciplined than in the past.

Cons

No long-term strategy for anything - management by slogans.
Top-level management is on up to par with what you would expect in a major corporation.
Stagnation was an option before the Spitzer lawsuite - it is no longer, but management doesn't know how to do anything else.

Advice to Senior Management

Get into details - do not just set theoretical goals, but figure out the plan of attack. Do it yourself - whoever you delegate it to will likely be too incompetent to do it well.