Google Inc. (NASDAQ: GOOG), Yahoo! Inc. (NASDAQ: YHOO) and many tech companies regularly promise to give reporters a sneak peak at their newest products features provided that they keep their mouths shut for a designated period of time. It's called an "embargo" and it's gotten way out of hand.

Embargos often are found on a slow Monday morning. The Yahoo announcement today that it will allow users of its email service send free text messages to mobile phones is a case in point. Reporters from AP, Reuters , and USA Today each appear to have gobbled up the press release that Yahoo's flacks spoon fed them Sunday without a glimmer of skepticism. None mentioned the deal they struck to get access to the news.

Sunday is the favorite day for embargos. Odds are that reporters will do what the companies want since their sources who might point out that this announcement isn't a big deal aren't in the office. Companies also pre-brief friendly analysts that will help them spread their message. The same idea works in mergers and acquisitions. This is how "Merger Mondays" got started. No one can manipulate the market when it's closed on Sunday. Big medical journals release research using embargos as well as well.

I don't mean to pick on Yahoo!'s announcement today. For all I know, this could be the biggest thing since sliced bread, but I doubt it. In today's media age, embargoes are becoming increasingly stupid. I can't tell you how many times I honored embargoes only to see a post on a blog about a "a big announcement coming", promising more details to come once the news was "officially" released.

Reporters -- me included -- honor these embargoes because they are worried that companies won't leak them the big news if they don't write about little things. The flacks and the journalists scratch each other's backs and the reader winds up the loser.