You will need to add your username to vboxusers group
open a terminal
sudo gedit /etc/group
vboxusers:x:125:mruckman
reboot Ubuntu to make sure it picks up the new changes
You will also want to install VBoxGuestAdditions_4.1.2
mount the ISO image inside the virtual appliance
You can download various versions of the software here:
http://download.virtualbox.org/virtualbox/4.1.2/
Turn off "Enable absolute pointing device" to have better response during shutdown and reboot.
When the virtual appliance is turned off, do the following:
Settings, System, uncheck the "Enable absolute pointing device"