Facebook is known for making unnecessary changes - at least for the normal users. The most recent (and hopefully the last, at least let this year end without any more changes, please?) change that the social networking site has done is the Facebook Ticker which literally ticks people off. It's purpose is to simply tick you off. :) Seriously, the redesigned Facebook's Ticker
...lets you see all your friends' activity in real-time. When you hover over an item on ticker, you can see the full story and join the conversation as it happens. Ticker updates itself as stories happen. This gives you a more complete picture of what your friends are doing, right now.
There's no escaping from this feature. You may resize it but Facebook doesn't give you the liberty to minimize it.
You can't close ticker, but you can make it smaller by moving the horizontal bar between ticker and chat. Slide the bar up to hide ticker and make your chat list longer. Pull the bar down to show more of the ticker and hide chat.
You may, however, hide it.
Hiding the Facebook Ticker in Chrome and Firefox
In Chrome, all you need to do is install the Hide Facebook SideBar Ticker extension. Once installed, close your Chrome browser and login once again to your Facebook account and bam, no more annoying Facebook Ticker!
In Firefox, you will need to install a user script. To do so, first install the Greasemonkey add-on and then install this user script. When prompted, restart Firefox and the ticker will be gone. Do note that this user script removes the entire right column of Facebook, including the ticker, event invitations, ads, sponsored stories, friends' photos, and so on.
There you go, hope you enjoy a Facebook Ticker-less Facebook!