Red __ (Snoopy's pilot foe) (5)

I believe the answer is:

baron

(Other definitions for baron that I've seen before include "powerful businessman" , "Minor nobleman" , "Minor peer" , "A lord; sounds like childless" , "Born a (anagram) - powerful man of business" .)

I've seen this clue in the Newsday and the Newsday.com.

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