Pros
I hate to say this because I've never been this type of person before, but the only positive about working here (aside from the people of course) is that it's pretty slack. You'll almost never be called upon for overtime and it's a great place for "paycheck collectors." (The time when exceptional performance was properly recognized and compensated is long gone!)
Cons
This place is suffering from a massive case of the "dead sea effect." (http://brucefwebster.com/2008/04/11/the-wetware-crisis-the-dead-sea-effect/). 90% of the smart people have left the company. It is almost at the point where you have to file TPS reports to do any work (time accounting). The management is so cheap that they've decided to move us from nice offices to a single tower in downtown Bellevue where almost everyone will get a cube and you can kiss your free parking goodbye. I'm stunned that senior management, after so many years, is still so incompetent. They don't understand technology, which was the reason why Expedia originally became so successful. This manifests itself in hiring decisions of middle to upper management. Because people are almost never promoted from within, some PHB-type ends up coming in from the outside to run a division, and to make his 'mark' or get items for his performance review, ends up doing a reorg or forcing some technology he read about in a trade journal.