Pros
I think the best reason to work for GE are the training and risk taking opportunities as well as the talented senior managers. GE is continuously putting its managers through some form of training- whether it be in basic management skills, quality (Six Sigma/LEAN), Finance, or Innovation. All this training drives a group of leaders and up and coming leaders who all speak a shared language. Risk/Reward opportunities are encouraged early in careers at levels that wouldn't be allowed in other companies. These risk opportunities are successful because, thanks to all of the training, every risk opportunity must have a full and easily executable mitigation plan. And finally, I've get to meet an inept senior manager. While I might not agree with their philosophy or a specific action, they are always well thought out and with positive intent.
Cons
The downsides are exceptionally long hours and relatively low pay. The GE risk/reward culture drives the long hours as well as relatively untenured employees having "bigger jobs" than they would at other companies. This means that their average pay is lower than those with the same role in other companies, but in those other companies it would have taken them longer to be allowed to perform the same duties.