How to hide Newsstand in iOS 5

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iOS is out and experienced users of the iPhone platform may have noticed that their is a new app called Newsstand that provides you with access to magazines purchased within the App Store.

However, by default you are unable to drag this application to a folder or remove it from the home screen.

There is a workaround where as you create a new folder, you can VERY quickly drag the Newsstand app into the folder. It's recommended you have two apps that are close together to make this a smooth and successful process. This at least allows you to get it off your main screen (Note: you cannot drag it to other folders, unless you go through the same process and create a new folder.)