Pros

Excellent pay.
Benefits are outstanding (especially prescription drug coverage).
Onsite cafeterias (with decent food).
Several Fitness centers onsite.
Twenty four hour security.
Cutting technology in the labs.
Safety is priority one.

Cons

Politics. It seems that folks who do the bulk of the work are never promoted, while the folks who simply compile data into charts move up the ladder.
There is a feeling of lack of trust and respect.
If a few hours is spent away from work for personal errands/doctor appointments, every minute is expected to be made up. That is fine. However if extra time is spent or if there is unscheduled weekend work (in order to meet deadlines, etc.) there is NO comp time. If you work extra hours, you're working for free.

Advice to Senior Management

Respect the employees. I realize that the occasional rogue employee will try to cheat, but instead of punishing ALL employees by making unreasonable policies, punish the individual cheating employee, and allow the employees who follow the rules to feel respected. Currently employees feel like they are working for babysitters, who monitor every minute.