While surfing the net, I found out that apparently every iOS 5 device has a glitch that enables you to hide newsstand. You need 2 apps that are not already in folders, and newsstand. Drag one of the apps on to the other to create a folder, then tap and hold newsstand and it will automatically appear in the folder. Sometimes it doesn't work on the first try so you may need to try more than once. This glitch does come with some cons, though. If you try and click newsstand while it's in a folder it crashed the springboard. If you don't use it though, this is not a problem. Have fun.