Pros
If you plan on spending a long time with one company and want to build a long term career, this is a great place for you. The LDP program gives you lots of exposure to different projects. Once you become an "LDP" you are branded as someone who is a fast tracker and you will be tapped for various opportunities over your peers. Also has some great benefits.
Cons
Can be very bureaucratic (the downside of working at any large company). To succeed, you have got to have that "go-getter" attitude. Don't expect for anyone to hand you anything. If you want to advance in the company, be prepared to spend a lot of time in Dallas. Promotions are also sparse. The union is an absolute headache to work with. Unfortunately there is little you can do about this. Just put in your time with the management rotation, and quickly move on.