Pros
Working in departments not directly touched by the CEO can be tolerable. This is becoming less and less likely though, since the CEO is gaining more and more direct influence in each department.
Cons
Lack of leadership. Priorities and goals change weekly. This is not an exaggeration. I had a director who would drastically change the course of Client Services every month due to a "cool new book" he had read. This would disrupt a lot of the ongoing projects which were currently in place. There is a severe lack of scalability in the company as well. Arguably, this is something that happens in a lot of companies, but its almost comical how out of sync Property Solutions is. Each department tries to do the best it can, but is directly influenced by Development. The CEO runs development, and fires developers and others who disagree or don't fit with him. This encourages those in Development to "get things done" by pushing out new features or releases which are not near ready, thus creating havoc for all the other departments in the company. What's funny is that whenever an individual suggests that Development slow down, he or she is perceived as lacking the company's innovative spirit and is put in the dog house. Others see this and learn its better to keep their head down and keep their job rather than disagree with the CEO.