Editing Width of "Last Post" Box and changing font size
 

I can't figure out how to edit just the size of the 'last post' block of the forums. The part I'm referring to is in this screenshot with the red arrows/line.

http://mayhempvp.com/misc/last_post_box.gif

I'd like to make that section wider, and also would like to make the text a smaller size which I can't seem to find anywhere to edit. An example of a website I like with the width/size is: http://elitistjerks.com/forums.php

All help will be greatly appreciated.