Cronyism -- Pretty crappy senior leaders hire their equally crappy friends from other places.
Family-business -- It's a family-run business to this day. The problem is that they still don't know what sort of business they want to run. One day you're in the adult business, then they get embarrassed that they're in the adult business and declare themselves a lifestyle company -- whatever that means.
Corporate -- Finance, Accounting, HR -- all three functions were ridiculously outdated. I don't think it's the fault of the workers in those groups -- they all seemed just as frustrated with the outdated systems and policies. I'm not really sure why these areas were so behind the times, just know that they were.
Career Path -- There really wasn't any rhyme or reason to promotions. Some good performers got promoted, but just as many bad performers did too.