Yes, it's called Fascism
Fascism is a variant of socialism popularized by Mussolini and Hitler in the 1930's. Property remains nominally private, but the State may intervene however it sees fit, exercising varying degrees of control over the economy. Most people, in defining fascism, focus on the fact that it is a nationalist ideology. Leftists use this to equate fascism with modern day conservatism, ignoring that economically, fascism is a half-assed socialism very similar to what the left promotes today. Nor are modern conservatives even remotely as nationalistic as the fascists of yore - I've yet to hear one argue for expanding the US border, for example. Certainly, many conservatives (Bush among them) advocate fascist economic policies; but not to the degree the left does.
Obama's dressing down of GM is another clear-cut example of fascism. This must-read post at Powerline explains in detail, though it uses the term "corporatism" instead, probably out of politeness. "Fascism" has become such an epithet that people assume you're a raving lunatic for applying it, no matter whether you do it properly. But let's call things what they are and ignore the modern trend of not wanting to "label" things. The way things are going, it won't be long before there's a ban on all abstract concepts.