  Using the Space Telescope Imaging Spectrograph on the Hubble Space Telescope,
we have obtained deep far-ultraviolet images of the compact elliptical galaxy
M32. When combined with earlier near-ultraviolet images of the same field,
these data enable the construction of an ultraviolet color-magnitude diagram of
the hot horizontal branch (HB) population and other hot stars in late phases of
stellar evolution. We find few post-asymptotic giant branch (PAGB) stars in the
galaxy, implying that these stars either cross the HR diagram more rapidly than
expected, and/or that they spend a significant fraction of their time
enshrouded in circumstellar material. The predicted luminosity gap between the
hot HB and its AGB-Manque (AGBM) progeny is less pronounced than expected,
especially when compared to evolutionary tracks with enhanced helium
abundances, implying that the presence of hot HB stars in this metal-rich
population is not due to (Delta Y)/(Delta Z) > 4. Only a small fraction (~2%)
of the HB population is hot enough to produce significant UV emission, yet most
of the UV emission in this galaxy comes from the hot HB and AGBM stars,
implying that PAGB stars are not a significant source of UV emission even in
those elliptical galaxies with a weak UV excess.
