Each headline reads "Happy Christmas". From top to bottom the captions underneath each of them read as follows:

Approved in principle, but needs to have a more 'Christmassy' feel about it.

Love it, but maybe the typeface isn't traditional enough. Still feels a little impersonal.

Much better but will black people understand the Eurocenticity of the message. Can we look at something that won't alienate them.

The general feeling is that we've gone too far away from the first option. Please revise. From everybody at the real agency

(sent to all the agency's clients a poster Christmas 'card'.)