Here's our Internet Explorer Tip for.. December 30, 2004
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Navigating the Internet Explorer Organize Favorites Dialog Box
When you want to organize your Microsoft Internet Explorer Favorites folder, choose Favorites, Organize Favorites. When the dialog opens, you can delete folders or URLs by clicking them and then pressing the Delete key on your keyboard. You'll get a confirmation dialog where you must answer Yes to complete the deletion. You can also move Favorites to new or exiting folders.

If you need to move a folder up or down in the list, click the folder (or Favorite) to select it and then hold down the Alt key while you use the Up or Down arrows to move the object.