Where to begin... The lack of ethics in project management is terrifying. People bill to whatever project they are told, with no real hours accounted for (poor clients!). The ethics in actual work is also terrifying. People just copy and paste from one project to another - so work is never original or top tier (poor clients!). There are a couple of studio directors in the Boston office who seem to run more professional gigs, but the studio directors on my floor were both totally nuts. They fought with each other like school girls, were incompetent managers, and lacked any true leadership qualities.
The revolving door gets old too. There are always "new" people on your team - and having to tell who can really accomplish actual client work is super difficult.