Here's one more from the Fiero Maintenance Site

The e-brake adjustment is that bracket located where the cable from the brake handle meets the the cables under the rear of the car. To adjust it you need a crescent wrench to hold the small flat spot on the left brake cable and an open end wrench to turn the nut on the left side of the bracket. Since it appears that this adjustment has not been done in a while you may need to use a good lubricant in order to make the nut turn. Keep turning the nut until you can engage the e-brake with about 7 clicks of the brake handle.
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If you look under the car in the back, the adjuster (equalizer) will be tucked up in the engine cradle near the catalytic converter. If you're still unsure, simply remove the left rear wheel and follow the brake cable. Hope this helps.
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I just tightened my 88 GT along with my 86 SE.(April is sticker month) It isn't all that hard. I do it with out removing the wheels but you can if you want more room/visibility Here's what I do:
1. Block front tires and release e-brake
2. Raise the rear end
3. Pull e-cable out of it's locking position thereby releasing the spring
4. Remove the lever which retained the cable and spring
5. With a wrench, set the parking brake by hand till the brake is fully engaged
6. Loosen slightly to disengage the brake
7. Replace e-brake lever onto the 5 point nut doing your best to rotate the nut only in the engaging direction; this will allow the e-cable minimum travel and maximum operation ( when you replace the lever position it approximately in the 1/2 to 3/4 area of movement)
8. Make the same adjustment on the opposite side
9. Test the system to be sure your brake is disengaging when you release the handle but at the same time maintaining maximum stopping force by a short pull on the handle
10. You may have to repeat these steps or adjust the brake cable to achieve optimum e-brake pressure
Hope this helps - my e-brake would rather kill the engine than allow the car to move (even better in reverse)

Nolan

[This message has been edited by Sourmug (edited 09-15-2006).]