Pros
You could basically do whatever you want, because no one cares. No repercussions to any actions.
Cons
The family that owned this company was a joke. The main staff consisted of old college friends. Completely disconnected from their employees. Never in the office to see what was going on. Security and health hazards all over the place. Employees coming in high and drunk. Mice and roaches constantly. Held on to horrible employees thinking they were "loyal" when really, they just got away with whatever they wanted, so why not stay? No room for any type of advancement, no improvements to processes/work ethics ever made because they were stuck in their one minded way. Lost a lot of good employees but didn't care b/c if they didn't sink with the ship then they weren't "loyal".