Yes. You can select an icon, press Menu, and select "Move to Folder" to move it to a different folder, or "Move" to relocate it on the same screen, or "Hide" to hide it.
Thank you so much!! This is my first BB (can you tell...lol) and it's wonderful - complicated at times, but still great. Thanks again for your help! I forgot to ask...if I hide it, how do I find it if, at a later point in time, I want to use it?