As far as I know, there is no way of expanding a parent element around an absolutely positioned child element. By making the child element absolutely positioned your are removing it from the regular flow of page items.
I recently built a 2-column website where the right column was absolutely positioned but the left column was not. If the left column had less content and a smaller height than the right column, the page would cut off the right column since it was absolutely positioned.
In order to resolve this, I had to determine if the height of the right column was greater than the height of the left column and if so set the height of the parent div height to the greater of the two.
Here is my jQuery solution. I'm not much of a coder so feel free to tweak this:
`jQuery(function(){
var rightColHeight = jQuery('div.right_column').height();
var leftColHeight = jQuery('div.left_column').height();
if (rightColHeight > leftColHeight){
jQuery('.content_wrap').height(rightColHeight+'px');
}
}); `