An easy way to create a vertical file from a dish drainer, compliments of Better Homes and Gardens:
"Now that dishwashers are often a kitchen staple, wire drainers are a bit out of favor. Give one new life as an office storage solution to store file folders. This old item adds character, charm, and utility, making it the perfect display and organization piece for your home office."
More on DIY storage:
DIY Storage - Entry or Side Table
DIY - Turn a TV Cabinet or Hutch into an Entry Organizer
DIY Under-the-Bed Storage