Pros
With turnover at 48% there is always the chance of being promoted. Vacation time is generous but you will be punished for taking it. If you can succeed in a dysfunctional, stress filled environment then you can succeed anywhere. Micro management will help you in your future endeavors because you thought twice before your "new boss" thought once. Working here is better than welfare.
Cons
Lack of leadership and vision where incompetence reigns supreme. You will be kicked to the curb for bruising your boss's ego. No matter how hard you work and what goals you achieve, in the end it really won't matter - (The company broke a record for money earned in a month and upper management was chewed out in the staff meeting??) You will be expected to hit deadlines that are unrealistic and unattainable but since greed is good, the company will take the job anyway. You will NOT receive a pay raise no matter how well you perform. 6 to 20 cents a year is good if you can even negotiate that. If you are going to make someone rich at your own expense than this it not the place you want to do it. Ownership/ Upper management is not likeable.