fix the location field

Sometimes locations I've created don't show up at all in the list, so I have to refresh and lose all the other data I've entered in an event, to make them show up.
Sometimes, I haven't created a location, and would like to use the field next to the drop down option, but it still insists on me selecting something.
Sometimes there isn't a location for an event, for example a conference call.. I can create a location called conference call, but the event still shows it as an address, which looks a bit naff.