Immigrant entrepreneur finds dream at the end of the rainbow

Which young teen doesn't have a handful of those colorful rubber band bracelets? A Metro Detroit immigrant has created a new craze.

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"MY model American entrepreneur of the moment is Cheong Choon Ng. He has not attracted a $3 billion bid from Facebook, like the young inventors of the photo-sharing service Snapchat. Wall Street is not cooking up an I.P.O. But Ng is a star in my household. He is the creator of the  Rainbow Loom, which in the middle-schooler market is the hottest device not called iSomething. If you have noticed that half the children in America — and a fair number of adults — seem to be sporting bracelets that are braids of brightly colored rubber bands, then you have seen the fruits of the Rainbow Loom....

He is a cheerful advertisement for the American dream. "The longer you stay, the more you see the opportunity," Ng told me from his home in Michigan, where he is working on a loom upgrade and his next invention. "Whatever you work for, you can own."

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