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I have been working at L-3 Communications full-time (More than 5 years)
The benefits are pretty good. Management has been easy to deal with. If you want mediocre training, they have lots of options. The CEO is a very nice person. Pay is industry standard. You'll never encounter a surprise with this company.
If you want to work with average people, this is the place for you. Like all large companies, there are good and bad employees. Don't expect to be working with the brightest minds, you'll be working with all of the C-average students. If you're not ambitious, and you don't mind every day being like the next, then this is the place for you. When it comes to the technology -- don't fool yourself, this company is in the business of winning contracts and staffing people on them. Delivering on the contract or being successful is secondary.
Advice to Management
Please try and create an exceptional company that is customer-focused, not contract-focused. Please create a culture of sharing through company events. Please stop focusing on the "bottom line" so much!