The Folders Menu
Moves the selected sub folder to a new folder.
If a sub folder is selected, this function lets you rename it. If no sub folder is selected, you will be able to rename the folder that is currently displayed.
Will completely erase all sub folders and files contained in the selected folder or folders. Be careful with this command!
Prompts you for entering a new folder name and creates it.
The Folder items
At the bottom of the Folders menu there's a list of folders that have been accessed recently or that were added to this menu from Preferences. Selecting one of them will display this folder in the File View of the active pane. Selecting Edit Folder List at the top of the list will display the Folder tab of the Preferences dialog for editing the folder list.