I was browsing through the Gerber site and noticed there is a recall for their Gator Combo Ax; this is the hatchet with a small, fixed blade knife in the handle. The knife is held in place with a magnet which, it turns out, isn't a foolproof retention method. From the recall notice:

"The knife in the axe handle can come out of the axe handle when the axe is used for chopping or hammering, posing a laceration hazard to the user ... Gerber has received five reports of laceration injuries. All required stitches."

They have a form for owners to fill out and they will send out a retrofit kit including "a Handle Cap, instructions for installing the Handle Cap, and a warning label for the knife-in-handle Combo Axe."

By the sounds of it, the retrofit is only for travel & storage and they recommend removal of the knife before actually using the hatchet (I'm assuming this is what the warning label will say).

Personally, I do own and like this hatchet; I find it works good and have never had any issues. However, since the I've never actually used the knife, it is more of a back-up, I am thinking either leaving it at home or finding a way to more securely retain it during use may be a good idea. I don't really like the idea of having to leave an unsheathed knife lying around when ever I need to prepare some wood or hammer some tent pegs.