Pros
Good family underneath it all I think. Could be a great place to work again if the family ever pulls their heads out of the sand and takes it back over. It's getting really close to too late though as all the good people are gone. Used to be innovative until those with vision were run off. Fatal blow was when an employee who had been there pretty much from the start and was the one man who is a real leader and could have taken the company to great places got fed up and left. He knew how to manage people and how to get the best out of them by treating them properly. He got it. And, he got out too. I don't think the family really understood what a real gem they had there.
Cons
Every bad cliche of the worst upper management applies. If you are creative then you are a threat, will be put in your place and likely eliminated. If you are talented then you are a threat, will be put in your place and likely eliminated. If you have independent thought and ideas then just forget it as here is no place for that here anymore. This is a nearly 50 employee one man show. Resistance is futile and compliance will only prolong the inevitable. Eventually you end up in the crosshairs either way.