Pros
Solid, stable company. Hey, in this economy, that's nothing to sneeze at. The impression that I have is that (in spite of the layoffs) that's still more or less the case. As an intern I found that the company policy was very open towards interns -- I was surprised and impressed at the knowledge available to me and the trust placed in me.
Cons
I found that And seriously, free food would go miles towards a more awesome work environment. As an intern I found that the full time employees assigned to work with me were preoccupied with their real jobs to the exclusion of helping me out; however, this might have been a peculiarity of my group or situation, or possibly I should have reached out more myself, as I know other interns did not find this to be the case.