My boss is my dad.
Positive: Not a micromanager, I basically know what I'm responsible for and as long as I get it done accurately and in time he doesn't bother me. I actually took a bunch of his responsibilities when I started full time so I'm sure he appreciates the freedom it affords him to focus on his own projects. My pay is fair, benefits ok, bonus good (max IRA contribution every year + some spending money). Is also good at understanding what is within my scope of specialized knowledge and what is without...while I know HVAC systems in a rudimentary fashion my education is business and thus I am not expected to estimate huge jobs. He feels comfortable having me quote small stuff <$5000 but knows my limitations in that regard.
Negative: Can be stubborn and dismissive, especially when it comes to ways to change things. I get the logic that this procedure has worked for this long with this many employees etc and it basically comes from the fact that I think he's satisfied with the company he's built (and rightfully so). I however would love to focus on growth, but it's often met with resistance. Finally, the natural growth has reached a point where some of the current inefficiencies can't be ignored, so authorization to pursue such developments with firm capital is easier to get.