I was told by a (former) Midland Marketing person that this is by design - the entire chassis is a heat sink so a fan is not needed, but yes, you feel the heat.
Also, beware that "some people" are going to leave ssstupid comments in this thread declaring that this radio "sucks", "is junk", etc, etc, because it does not have the features that THEY think are important. So bear in mind that Midland did not design this radio for them, they designed it for normal people such as yourself that just need to talk to people.