Pros
Best employer in Orlando. Good pay, 3 weeks vacation starting, every other Friday off. Good place for starting engineer's career. Might want to move on after some experience, though, because LM is an old traditional DoD contractor that values longevity over performance. If you've done the same job for 10 years, that qualifies you for promotion, regardless of how good/bad you performed. Very risk-averse company - the motto is "never do anything that you haven't done before". Also, the old traditional way of making money in DoD contracts still applies. (1) Lowball the bid to win the contract; (2) Overrun cost and miss delivery schedule; (3) Get beat up by Govt for (2); (4) Panic and throw people and resources at the program to recover (with the Govt providing additional funding to facilitate this, which was kinda the objective all along); (5) Deliver product at a major loss to company (since you underbid in (1)); (6) Make up for (5) by getting Govt to fund massive logistics/support/repair contract to keep product working in field. (7) Repeat above steps ad infinitum.
Cons
Pay/promotion based on seniority rather than performance-based.