Jared,
You can hide the caret by setting the style to read-only. You don't like the
grey background? Why don't you go ahead and change the backfround color for
the this read-only text box? Use whatever color you like.
Keep in mind though that even read-only and without caret the text is still
selectable because one may not be able to change the text, but one can still
copy the text in the clipboard.

Signature
Stoitcho Goutsev (100)
> Hi,
>
[quoted text clipped - 3 lines]
> Or if windows would stop selecting text automatically after a calling
> focus method from antoher textbox that has a text selection.