Pros
Federal-Mogul is a big corporation, and for that reason has both great, and not so much people working there. Your experience there depends greatly in what department you work in. It seems that VPs have favoritism among departments. And within departments, there are a few individuals that are looked as favorites. Some of them have proven that they really deserve the special treatment. However, most of the times, preferential treatment and promotions are given on a "I like you" basis. So achieving and beating goals will not get you anywhere. You have to be liked by someone important. If you are, then you can very quickly jump up into management. If you are not, good luck.
Cons
Morale has not been great with the economic downturn. The current CEO is very hard on his subordiantes and this is reflected all the way down to employees. Some managers are great, and if you are lucky enough to work for one of them, then your time here will go very smooth. But again, if you really want to be promoted, you have to be liked by the above people