From Jayski.com:

Busch parked for Texas Natinwide and Cup races; Busch releases statement: Tempers flared early in Friday night's truck race at Texas Motor Speedway. As they ran three-wide early in Friday's race, Ron Hornaday moved up the track, causing Kyle Busch, running on the outside, to hit the wall. Hornaday also hit it. As they slowly went around the track, Busch ran up on the rear of Hornaday and caused Hornaday to smack the wall head-on in what was hard contact. Hornaday was uninjured. NASCAR called Busch to the hauler to meet with officials after the race. NASCAR met with Kyle Busch for less than five minutes on Friday night after the race. They will meet with Busch before Saturday morning's Cup practice (which is at 8:45am/et) to discuss the incident. Hornaday went to the NASCAR hauler (he wasn't called there by officials) after Kyle left and said: "If NASCAR doesn't (park Busch), I'm hanging around, and I'm going to buy Tommy Baldwin's ride and that guy will never finish another race. That's a promise. He's got to be parked. They did it to Harvick at Martinsville.'' Hornaday was reminded that the Harvick parking was in 2002, which Hornday said: "So, let's have at it? So I can go over and beat his ass and let's have at it? He lives too close to me. We'll see what NASCAR does. If they don't handle it right, I'll be over at his house Monday morning.''(Virginian-Pilot)(11-5-2011)

UPDATE: NASCAR announced Saturday morning that they have parked Kyle Busch for the remainder of the Texas race weekend. He will not be allowed to participate in the Nationwide or Cup races. He will be replaced in the Cup race by Michael McDowell and by Denny Hamlin in the Nationwide race. Further penalties against Busch could be announced early in the week.(11-5-2011)

UPDATE 2: Joe Gibbs didn't argue with the severity of the penalty. "I always trust NASCAR," Gibbs said. "I think they do a great job. They manage the series. It's grown because of them and the way they handle it. I have great faith in the decisions they make. We've been a part of this for a long time, and we love it. We love being a part of it, and we love this sport. This was a tough one for us, but as I mentioned, sometimes in life you go through tough things. You don't like it, but we're certainly going to try and work our way through this one and do the right thing and try and handle it the right way." Gibbs now must deal with the fallout from the incident, and that means talks with Cup sponsor Mars and Nationwide sponsor Z-Line Designs, as well as other JGR partners. "I met with Kyle in his motor home this morning," Gibbs said. "It's one of those personal conversations you have when a real tough situation like this comes up. I think, for all of our other partners involved with this-and there's a number of them-we haven't even had a chance to get with everybody yet. So we're still trying to go through that as best we can. We'll be here the whole weekend trying to meet with everybody, trying to work our way through this and trying to handle it the right way."(Sporting News)(11-5-2011)

AND: Ultimately, Busch may face sanctions more severe than those levied by NASCAR. Addressing the media this morning in Texas, team owner Joe Gibbs accepted blame for his driver's actions, saying, "It definitely rests with me. When you own something& you're responsible. I take full responsibility for it." Gibbs hinted that conversations have taken place with team sponsors about how to proceed, and sources in the NASCAR garage say serious consideration is being given to parking Busch for the remainder of the 2011 Sprint Cup and Nationwide campaign.(Sirius Speedway)(11-5-2011)

Statement from Toyota: "Toyota understands it is NASCAR's responsibility to enforce their rules for the well-being of the sport. We recognize this is a difficult situation for both Joe Gibbs Racing and Kyle Busch with respect to the incident that occurred at Texas Motor Speedway during Friday (Nov. 4) night's NASCAR Camping World Truck Series race. However, we are confident in the leadership of Joe and J.D. Gibbs, and are certain the team will handle this difficult situation in an appropriate manner. Toyota remains 100 percent committed to its support of Joe Gibbs Racing and its drivers."(Toyota)(11-5-2011)

Statement from Kyle Busch: I've had a lot of time today to sit and reflect, and try to put my thoughts into words as best I can. I want to sincerely apologize for my actions during Friday night's Truck Series race at Texas. I apologize to my fans, all my sponsors, everyone at Joe Gibbs Racing and Kyle Busch Motorsports. After talking with my team, it's great to have their support and encouragement to assure me that there are better days ahead. Even though this took place while driving for Kyle Busch Motorsports, I am sorry for how difficult this has been for everyone associated with Joe Gibbs Racing's Nationwide and Sprint Cup Series teams. I'd also like to apologize to Ron Hornaday Jr., and everyone associated with the #33 team in the Truck Series. I understand why I was taken out of the car for the rest of the weekend. NASCAR officials had to act, and I accept their punishment and take full responsibility for my actions. As a racecar driver, the hardest thing to do is to sit on the sidelines listening to cars on the track when you know you should be out there competing. For this, I have no one to blame but myself. Through a lot of support from the people around me, I feel like I've made a lot of strides this year, but this was certainly a step backward. Moving forward, I will do everything I possibly can to represent everyone involved in a positive manner. However, I know my long-term actions will have more of a bearing than anything I say right now.(Kyle Busch Motorsports)(11-5-2011)

Statement from M&Ms: "The recent actions by Kyle Busch are not consistent with the values of M&M'S and we're very disappointed. Like you, we hold those who represent our brand to a higher standard and we have expressed our concerns directly to Joe Gibbs Racing."(M&Ms Facebook page)(11-6-2011)