Pros
Employees can be compensated for their accrued vacation time, if they leave. Yep, they actually tried to take that away from us.
Cons
These are the beltway bandits you've been warned about, squeezing customers and employees alike to get the maximum profit for the least amount of value possible. Overpaid, inexperienced kapos can't manage their way out of a wet paper bag. The people who actually work are constantly pressured to do more work and work longer hours to cover for managers' incompetence, all while getting their compensation chiseled away at every turn with ham-handed manipulation of insurance and benefits. When you push back, the kapos tell you "it's competitive, all employers are doing it." Maybe the worst of the worst employers, during the depths of the recession, to the least competent employees. Most employees don't have to put up with this treatment, however, and they're leaving in droves.