Upper management is clueless
The CTO (previously the company's VP of sales!) has no idea what technology is. Convinced that it is a fad and that print is still the future. Has no goals to sell digital projects and keeps running valuable people out the door due to micromanagement and complete lack of knowledge of what developers actually do and how valuable good developers are.
ConsLack of industry knowledge and the talent that is right in front of them, horrible benefits and almost no PTO