Problem with Featured Image on Page in IE (or dropdown menus hide behind Slider)

Hopefully this is the place to post this!

We have a site here and it works in every other browser but IE (IE8 specifically). What's happening is that when you click one of the slides in the Featured Slider, the Featured Image on the linked page is messed up. (See screenshot)

After an extensive search, I found a solution. I added the following code to the header.php include:

`<meta http-equiv="X-UA-Compatible" content="IE=EmulateIE7" />

and that fixed the Featured Image problem, but subsequently caused an issue with the dropdowns in the navigation. They are now hiding behind the Featured Slider (which you can see at the site now, in IE8).

Any suggestions?