Overalapping titles on RSS widgets in custom theme

Hello WordPress world. I discovered WP about 8 months ago and finally setup my own server with GoDaddy, since I already have about 40 domains registered with them. What a fantastic application and community!!!

Anyway, I could use some help with a custom theme I purchased for a friend who owns a technology company. see it here – http://www.gofundy.com/opentech

The theme is pretty tight, but it only allows one line for text in widgets. When using a rss feed widget, the titles are various lengths, and wrap onto the next line.

I like the single line, but I would like to truncate the widget to only about 27 characters. Is there a global setting to make this change.

How do you suggest I truncate or limit the number of Characters. I’m sure there is a file to edit, but I don’t know where to start, or what changes to make.

Thank you in advance for your advice.
LDG