Pros

Very challenging technology.
Extremely talented group of individual contributors and first level managers.
No obvious age discrimination.
Opportunities for people from a wide variety of engineering disciplines.

Cons

Management has extreme problems making decisions and then sticking with those decisions.
Significant strain between east coast design center and west coast design center.
The company often seems more interested with process than with products.

Advice to Senior Management

Make decisions more quickly. Once a decision is made, execute on it (don't revisit it).
A 4000 person company needs to concentrate more on product development than on process development.